California Infrastructure's $308.55 million Pacific Gas revenue bonds have mandatory tender

By Melissa Kory

Cleveland, May 16 - The California Infrastructure and Economic Development Bank said its $308.55 million of Pacific Gas and Electric Co. refunding revenue bonds are subject to a mandatory tender for purchase on May 31.

The bonds affected include:

• $74.275 million of series 2009A bonds due Nov. 1, 2026;

• $74.275 million of series 2009B bonds due Nov. 1, 2026;

• $80 million of series 2009C bonds due Dec. 1, 2016; and

• $80 million of series 2009D bonds due Dec. 1, 2016.

The mandatory tender is a result of the replacement of the bonds' existing credit facility with a new credit facility on May 31.

Deutsche Bank National Trust Co. is the trustee.

California's general purpose financing authority is based in Sacramento.

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